Social network giant Twitter could invest about $100 million (about Rs 693 crore) in Indian language social networking app ShareChat, reported ET tech.com.

“Twitter never makes a minority investment of this kind, it is usually an acquisition. This is very significant for ShareChat looking at how the Chinese players especially ByteDance have been able to wean away users onto their platform,” an investor tracking the segment was quoted as saying in the report.

Twitter is making serious efforts to make inroads into second-tier cities in India that lie beyond the metros, said the report.

The Indian startup, the report said, is said to be valued at around $600-650 million in the new round. The startup has been engaged in a prolonged competition with China’s ByteDance.
TagsByteDance Jack Dorsey ShareChat Twitter